CNBC's "Fast Money" Nike’s Historic Drop… And Payment Stocks Getting Burned 6/28/24
Jun 28, 2024
Nike's stock plummets post-earnings, creating buying opportunity. Market performance, Dell's resilience, and Citigroup's bullish stance on tech stocks. Evolution of Apple and Dell, challenges facing payment stocks, and consumer behavior impact. Trader picks review halfway through 2024, with insights on stock performance and final trade recommendations.
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Nike Buying Opportunity
- Steve Grasso is buying Nike after its historic drop, believing the stock over-corrected.
- He cites the upcoming Olympics as a major marketing opportunity and the stock's pandemic-low price as attractive.
Nike's Leadership and Challenges
- Karen Finerman, a Nike shareholder, finds the earnings call worse than expected.
- She questions CEO Donohoe's leadership and points to several issues, including the shift to direct-to-consumer and competition.
Invest in Big Banks
- Courtney Garcia sees banks as attractive after stress tests, highlighting their ability to increase dividends and return capital.
- She recommends big banks like JP Morgan, noting their strong performance and dividend increases.